I hit my stop losses twice today. Once was a freak spike at the close of the market the other simply an unexpected turn in direction.
Thank goodness for stop losses!
But really do you want to ever hit these? or would you rather take your loss earlier? I would rather lose earlier but then why not move your stop losses closer.
Effectively I shouldn’t have re entered the market – I was already up in the morning. Sigh!
SILLY BOY.
Also just to point out, one of your contracts was too large again. Don’t think because the market is seemingly quiet that it can’t still whip your butt!
Lessons learned?
- Avoid trading if you have already hit your target.
- Limit the size of your contracts to acceptable risk
- Avoid trading near the close of market – it is rather turbulent
- You got caught trying to predict a change in market direction AGAIN!
No comments:
Post a Comment